Mercuryo Raises $7.5M for Crypto-Focused, Cross-Border Payments after Crossing $50M in ARR

Mercuryo Raises $7.5M for Crypto-Focused, Cross-Border Payments after Crossing $50M in ARR

Marshurio, a startup that has created cross-border payment networks, collected $7.5 million in fiscal year a series. The London-based company describes itself as “a crypto infrastructure company” that seeks to make blockchain useful for business through its “digital asset delivery gateway”. Specifically, it integrates different payment solutions and provides fiat and crypto payments and payments for businesses.

Simply put, Mercury aimed to use cryptocurrency as a tool for setting up next-gen, cross-border transfers, or, as it were mentioned, “Allowing a business to become a fintech company without the need to continue its complexities.” “The need for fast and efficient international payments, especially for business, is as relevant as ever,” said Petro Koziakov, co-founder and CEO of Marcurio. While there is no shortage of companies capable of delivering cross-border payments, the emphasis on startups in crypto is a differentiator.

“Our team has a clear plan to make crypto universally available by enabling cheap and easy-to-do transactions,” Kozhikov said. “Cryptocurrency resources can then be used to facilitate global money transfers, mass payment processing, and service delivery, among other things.” Marcherio launched its customer base in early 2019 and has seen an impressive increase since its annual recurring revenue (ARR) exceeded $ 50 million in April. The customer base of growth has reached 1 million, and including partnerships with several large crypto players.

In 2020, the company said its turnover increased 50-fold and its run-rate turnover exceeded $ 2.5 billion in April 2021. To accelerate this, Marcherio has begun to expand into new markets, including the United States, where they launched crypto payment offers for B2B customers in all states earlier this year. It also plans to expand “slowly” to Africa, South America and Southeast Asia.

In the Target Global-led Mercurio series, it also included the participation of a group of angel investors and brought in a total of $10 million raised since the start of 2018. The company plans to use its new capital to launch a new cryptocurrency debit card (spend directly from the wallet’s crypto balance globally) and continue to expand into new markets such as Latin America and Asia-Pacific.